GE Healthcare, Fujifilm Holdings
Corporation, and Koninklijke Philips N.V. were the top three ultrasound devices
manufacturers in 2014, with a collective share of 67.1% in revenue. This shows
the high level of market consolidation. Most of the major global and regional
players manage to secure solid ground in this market through long term sales
contracts with customers.

New entrants to the ultrasound
devices scenario will not only have to compete against the giant market share
held by these top players, but also have to manage funds during the expensive
initial phase of installation and procurement.

Ultrasound devices manufacturers
in most parts of the world are currently benefitting from the high investments
provided by both government and private bodies. Regulations as of now are
highly favorable for the growth of ultrasound devices players and this will be
a major driver for revenue generation in the coming years.

According to Transparency Market
Research, ultrasound devices sales do face several restraints, including the
steadily increasing preference of CT scanners, especially in developed
economies. Emerging economies, however, are still showing a heavy preference
towards ultrasound devices.

Sales
of Ultrasound Devices Bound to Rise as Patient Count Grow

“Most medical regulatory and
advisory bodies, including the WHO, agree that the number of patients suffering
from cardiovascular diseases is growing at an alarmingly high rate,” states a
TMR analyst. “The WHO explains that the number of heart patients is expected to
cross 23 mn by 2030. This is more than enough to show that healthcare
organizations around the world are in grave need for advanced ultrasound
devices.”

Similar circumstances can be
found in the case of tuberculosis, as the WHO stated that the rising population
density is making it easier for the disease to spread and infect more people.
TB is another disease that can be effectively diagnosed with ultrasound
devices, further boosting its demand.

Currently, most consumers of
ultrasound devices are sticking to cart/trolley devices. However, these devices
are large and difficult to move about. Owing to the growing demand for
ultrasound devices, manufacturers have already been working on making these
devices smaller, lighter, and as cost-effective as possible. The introduction
of compact/portable ultrasound devices is expected to have consumers shift
towards it, creating major opportunities for players in this product segment.

Additionally, the use of modern
technologies, such as the Doppler ultrasound devices will further create a
favorable growth rate for involved companies. Doppler ultrasound devices are
useful for diagnosing blood diseases at an accurate and fast rate, adding to
their appeal. Similar market tilts were witnessed during the inception of the
3D and 4D ultrasound devices, which are now replacing their older 2D
counterparts.

Compact
Ultrasound Devices to Top Growth Rate Charts Till 2023

Most customers and healthcare
organizations are beginning to prefer the use of compact/portable ultrasound
devices owing to the convenience they offer. This product segment will be
expanding at the fastest CAGR of 10.3% within a forecast period from 2014 to
2023. The largest product segment, meanwhile, is expected to remain the
cart/trolley based ultrasound devices for the forecast period.

The global ultrasound devices market is expected to
reach around US$11 bn by 2023; it had a valuation of US$6.7 bn in 2014. Asia
Pacific is expected to become the leading consumer of ultrasound devices by
2023 by growing at the fastest CAGR and replacing the previous market leader,
Europe.

Key Segments of the Global Ultrasound Devices
Market

Global Ultrasound Devices Market, by Product
Type

·Cart/Trolley based
Ultrasound devices

·Compact Ultrasound
devices

Global Ultrasound Devices Market, by
Technology

·2-D Ultrasound Imaging

·3-D and 4-D Ultrasound
Imaging

·Doppler Ultrasound
Imaging

·High Intensity Focused
Ultrasound (HIFU)

·Lithotripsy Ultrasound
Imaging)

Global Ultrasound Devices Market, by
Application

·Radiology

·Obstetrics and
Gynecology

·Cardiovascular

·Gastroenterology

·Other Applications

Global Ultrasound Devices Market, by Geography

·North America

oU.S.

oCanada

·Europe

oU.K.

oGermany

oRest of Europe

·Asia Pacific

oChina

oIndia

oRest of Asia Pacific

·Rest of the World
(RoW)

oLatin America

oMiddle East & Africa

About
Us

Transparency Market
Research (TMR) is a global market intelligence company providing business
information reports and services. The company’s exclusive blend of quantitative
forecasting and trend analysis provides forward-looking insight for thousands
of decision makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and techniques to
gather and analyze information.